"Our solid results for the full year demonstrate that our strategy is on track, we're executing efficiently and making strong progress against our strategy to deliver the results we promised to our customers, investors and employees," said Jeff Simmons, president and chief executive officer of Elanco.

"Overall, the animal health market continues to display strong fundamentals that will drive growth going forward. We are well positioned to capitalize on these industry growth drivers and are optimistic about our ability to continue to drive top and bottom line growth with the momentum we are carrying into 2019," said Simmons.

Fourth Quarter Key Events:

Innovation

• Our portfolio of innovation launched since 2015 accounted for $69.8 million in revenue, up $29.7 million or 74 percent over the same quarter last year.

• Experior: Received U.S. approval for Experior, a first-of-its-kind product for the reduction of ammonia gas emission in cattle. This approval marked Elanco's fourth consecutive year since 2015 of securing three key new product approvals.

• Imvixa: Met with the Norwegian Medicines Agency and have agreed on the path forward for submission of Imvixa, a novel treatment for sea lice in salmon.